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“The sharing economy is a real trend,” says Joe Kraus, a partner at Google Ventures who has backed car-sharing sites, RelayRides and Sidecar. “People really are looking at this for economic and lifestyle reasons. By making access as convenient as ownership, companies are seeing a shift.”

The sharing concept has created markets out of things that wouldn’t have been considered monetizable assets before. A few dozen square feet in a driveway can now produce income via Parking Panda. A pooch-friendly room in your house is suddenly a pet penthouse via DogVacay. On SnapGoods, a drill lying in a garage can become a $10-a-day income source from a homeowner who just needs to put up some quick drywall.

Shervin Pishevar is co-founder and co-CEO of Sherpa Foundry and venture adviser at Menlo Ventures, where he led the investments in Uber and Tumblr.

On this episode of Revolution, Pishever talks about innovation in traditional markets. The behind-the-scenes impact of Uber on the taxi industry and AirBnB on the hospitality trade are just two examples he uses.

As Pishevar notes, transparency is the foundation for innovation. "We are in living in an age where everything is transparent," he says. "Corruption and the old ways of doing things can no longer be hidden under the carpet, in alleyways. People are shining the light. When you’re in the light, it’s hard to be dark."